BorgWarner (NYSE:BWA) Upgraded by StockNews.com to Buy

BorgWarner (NYSE:BWA) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

BWA has been the topic of a number of other reports. Robert W. Baird upped their price target on shares of BorgWarner from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Wells Fargo & Company dropped their price target on shares of BorgWarner from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 25th. Barclays upped their price target on shares of BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. TD Cowen upped their target price on shares of BorgWarner from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Piper Sandler started coverage on shares of BorgWarner in a report on Friday, March 15th. They set an “overweight” rating and a $43.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.71.

BorgWarner Trading Down 1.8 %

NYSE:BWA opened at $31.32 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.20. The firm has a 50-day moving average of $34.66 and a 200-day moving average of $33.74. The company has a market cap of $7.14 billion, a PE ratio of 11.86, a PEG ratio of 0.77 and a beta of 1.22. BorgWarner has a one year low of $29.51 and a one year high of $47.05.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.16. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.51 billion. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. As a group, equities research analysts expect that BorgWarner will post 4.05 EPS for the current fiscal year.

BorgWarner announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 2nd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Parkside Investments LLC boosted its position in BorgWarner by 28.7% during the fourth quarter. Parkside Investments LLC now owns 196,889 shares of the auto parts company’s stock worth $7,058,000 after purchasing an additional 43,955 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of BorgWarner by 19.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 568,303 shares of the auto parts company’s stock valued at $20,373,000 after buying an additional 91,164 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in BorgWarner by 9.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 699,974 shares of the auto parts company’s stock valued at $25,094,000 after acquiring an additional 59,925 shares during the period. Kennedy Capital Management LLC purchased a new stake in BorgWarner in the 3rd quarter worth $833,000. Finally, Sei Investments Co. raised its position in BorgWarner by 13.2% during the fourth quarter. Sei Investments Co. now owns 1,850,749 shares of the auto parts company’s stock worth $66,349,000 after acquiring an additional 216,373 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.

About BorgWarner

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.